GE HealthCare Technologies Inc. (NASDAQ:GEHC) Shares Bought by Machina Capital S.A.S.

Machina Capital S.A.S. grew its position in shares of GE HealthCare Technologies Inc. (NASDAQ:GEHC - Free Report) by 190.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,419 shares of the company's stock after purchasing an additional 18,632 shares during the quarter. Machina Capital S.A.S.'s holdings in GE HealthCare Technologies were worth $2,294,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GEHC. Capital Research Global Investors grew its holdings in GE HealthCare Technologies by 4.5% in the 4th quarter. Capital Research Global Investors now owns 60,832,004 shares of the company's stock worth $4,755,851,000 after acquiring an additional 2,608,066 shares during the last quarter. Geode Capital Management LLC raised its position in GE HealthCare Technologies by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 11,320,576 shares of the company's stock valued at $882,777,000 after purchasing an additional 342,819 shares during the last quarter. Invesco Ltd. lifted its holdings in GE HealthCare Technologies by 18.4% in the 4th quarter. Invesco Ltd. now owns 8,067,927 shares of the company's stock worth $630,751,000 after buying an additional 1,252,613 shares during the period. Norges Bank bought a new stake in shares of GE HealthCare Technologies in the 4th quarter worth approximately $488,531,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of GE HealthCare Technologies by 14.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,785,740 shares of the company's stock valued at $374,162,000 after buying an additional 596,486 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

GE HealthCare Technologies Stock Up 1.1%

GE HealthCare Technologies stock traded up $0.84 during midday trading on Friday, hitting $77.61. 3,132,661 shares of the company's stock were exchanged, compared to its average volume of 3,279,447. The company has a market cap of $35.54 billion, a PE ratio of 16.34, a P/E/G ratio of 2.62 and a beta of 1.14. GE HealthCare Technologies Inc. has a 12 month low of $57.65 and a 12 month high of $94.80. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.76 and a current ratio of 0.98. The firm has a 50-day moving average of $73.28 and a two-hundred day moving average of $77.03.

GE HealthCare Technologies (NASDAQ:GEHC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $4.66 billion. GE HealthCare Technologies had a net margin of 11.02% and a return on equity of 24.95%. GE HealthCare Technologies's revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.90 earnings per share. As a group, analysts expect that GE HealthCare Technologies Inc. will post 4.68 earnings per share for the current fiscal year.

GE HealthCare Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend is Friday, July 25th. GE HealthCare Technologies's payout ratio is 2.95%.

GE HealthCare Technologies announced that its board has authorized a stock buyback plan on Wednesday, April 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

GEHC has been the topic of several recent analyst reports. Evercore ISI cut their price target on shares of GE HealthCare Technologies from $96.00 to $85.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company decreased their price target on shares of GE HealthCare Technologies from $103.00 to $89.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Morgan Stanley cut their price objective on GE HealthCare Technologies from $86.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. UBS Group upgraded GE HealthCare Technologies from a "sell" rating to a "neutral" rating and dropped their price target for the company from $74.00 to $73.00 in a research report on Monday, May 5th. Finally, The Goldman Sachs Group decreased their price objective on GE HealthCare Technologies from $94.00 to $82.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $88.55.

GE HealthCare Technologies Profile

GE HealthCare Technologies Inc engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally. The company operates through four segments: Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics.